Uganda Invites Interested Firms to Build Oil Refinery
From New Vision
By Ibrahim Kasita
Uganda has invited interested firms to express their interest in building and operating the proposed oil refinery to promote valuable use of the country’s petroleum resources.
The Uganda Refinery Project will have the capacity to process 60,000 barrels per day and will be located in Hoima.
In a Request for Qualification published on Monday, to identify a lead investor/operator for the development of the project, a private sector partnership will be established to encourage investment and technological innovation.
This arrangement is expected to provide the best, brightest and most cost-effective solution for the project in which government (public) will hold 40% equity. The balance of 60% shares goes to the private sector/s.
Already Uganda has invited the four East African partner states to invest in the 40% public shares in the proposed Uganda oil refinery.
According to the development timeline, the selection of the lead investor/operators will in mid-next year and it is expected the refinery will be in operation by 2017/18.
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